👩⚖️ The U.S. Commodity Futures Trading Commission (CFTC) won the case against Ooki DAO, a decentralized autonomous organization, proving that DeFi entities can face legal consequences for their actions.
⚖️ A U.S. district court ruled that Custodia Bank can continue its lawsuit against the Federal Reserve Bank of Kansas City over being denied access to Fed banking services.
🔓 Sturdy Finance, a decentralized lending platform, suffered a security breach resulting in a loss of approximately $800,000, due to an exploited reentrancy vulnerability and manipulated price oracle, causing the team to suspend all markets.
🔨 Curve Finance CEO, Michael Egorov, is facing a lawsuit from venture capital firms ParaFi Capital, Framework Ventures and 1kx, alleging misappropriation of trade secrets and a nearly $1 million fraud under the guise of a potential stake in Curve. Moreover, In a bid to safeguard a $65 million stablecoin loan from potential liquidation, Egorov deposited $24 million worth of Curve DAO (CRV) tokens into decentralized lending platform Aave.
🌐 In response to stringent U.S. regulations, venture firm Andreessen Horowitz plans to inaugurate its initial global office in the U.K, encouraged by the local government's apparent support for web3.
💰 TrueUSD halted the minting of its TUSD stablecoin via Prime Trust, while the coin's minting and redemption can still proceed through other financial services, amid BitGo's impending acquisition of Prime Trust.
📝 In response to the U.S. Securities and Exchange Commission's allegations, Polygon Labs asserted that MATIC was created, deployed, and focused internationally, denying any specific targeting of the U.S. market.
🏦 The Solana Foundation publicly opposed the U.S. SEC's classification of Solana's coin, SOL, as a security, while also welcoming further regulatory discussions for enhanced legal clarity in the digital asset sector.
🚫 Binance Nigeria Limited was commanded by Nigeria's Securities and Exchange Commission to cease operations due to its unregistered status and allegations of illegitimate activities.
📉 Ahead of a nearly 30% fall in value, key market makers, Jump Trading and Cumberland, transferred millions of dollars worth of Polygon's MATIC tokens to Binance and Coinbase, according to blockchain data.
🔚 Due to limited institutional demand in the current market landscape, Crypto.com (Disclosure: The company is a sponsor of Unchained.) will cease its services for institutional clients in the U.S. from June 21, while retaining its retail operations.
💼 Crypto tax software firm TaxBit reportedly reduced its workforce by around 40%, or 80 employees, following its attainment of a $1.5 billion valuation in a Series B funding round in August 2021.
The $$$ Corner…
🧠 Gensyn, a UK-based firm providing blockchain-based computing resources for AI platforms, raised $43 million in a Series A funding round led by VC powerhouse a16z.
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